ESBP/STAR MAX/IPx Victoria's Secret is preparing itself for a major turnaround after several years of sliding sales. On Thursday, its parent company L Brands said it would be selling a 55% stake in the lingerie retailer to private-equity firm Sycamore Partners. Under the terms of the deal, Victoria's Secret will go private. In its heyday in the mid-1990s to mid-2000s Victoria's Secret was considered America's lingerie sweetheart, and it had a powerful role in defining what "sexy" is in the modern day.

Code: d88362. 12% OFF Coupon for Sports Action Cameras

More videos